Janney Montgomery Scott LLC Raises Stock Position in Primerica, Inc. (NYSE:PRI)

Janney Montgomery Scott LLC lifted its stake in Primerica, Inc. (NYSE:PRI) by 2.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,243 shares of the financial services provider’s stock after purchasing an additional 292 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Primerica were worth $2,716,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of PRI. Fidelis Capital Partners LLC purchased a new stake in Primerica during the third quarter valued at approximately $208,000. State of Alaska Department of Revenue lifted its holdings in Primerica by 0.5% during the 3rd quarter. State of Alaska Department of Revenue now owns 31,613 shares of the financial services provider’s stock valued at $8,381,000 after buying an additional 145 shares in the last quarter. DekaBank Deutsche Girozentrale increased its stake in shares of Primerica by 78.5% during the third quarter. DekaBank Deutsche Girozentrale now owns 1,960 shares of the financial services provider’s stock valued at $512,000 after buying an additional 862 shares during the period. Ballentine Partners LLC bought a new position in shares of Primerica in the 3rd quarter worth $215,000. Finally, Ausbil Investment Management Ltd acquired a new position in shares of Primerica during the third quarter worth $665,000. 90.88% of the stock is currently owned by institutional investors.

Primerica Stock Performance

NYSE PRI opened at $300.62 on Tuesday. The firm has a market capitalization of $10.17 billion, a price-to-earnings ratio of 22.97 and a beta of 1.08. Primerica, Inc. has a one year low of $184.76 and a one year high of $304.84. The company’s 50 day moving average price is $269.64 and its 200 day moving average price is $248.67.

Primerica (NYSE:PRI) last announced its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $5.68 earnings per share for the quarter, topping the consensus estimate of $4.81 by $0.87. Primerica had a net margin of 14.95% and a return on equity of 30.93%. The company had revenue of $774.13 million during the quarter, compared to analyst estimates of $745.25 million. During the same period last year, the business earned $4.28 EPS. The firm’s revenue for the quarter was up 11.0% compared to the same quarter last year. Sell-side analysts forecast that Primerica, Inc. will post 18.49 EPS for the current fiscal year.

Primerica Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st will be given a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 1.20%. The ex-dividend date of this dividend is Thursday, November 21st. Primerica’s dividend payout ratio (DPR) is 27.50%.

Analysts Set New Price Targets

PRI has been the topic of several research reports. Piper Sandler assumed coverage on shares of Primerica in a report on Friday, August 30th. They issued a “neutral” rating and a $283.00 price target on the stock. Morgan Stanley lifted their price target on shares of Primerica from $257.00 to $269.00 and gave the company an “equal weight” rating in a research report on Monday, August 19th. Keefe, Bruyette & Woods lifted their target price on Primerica from $255.00 to $275.00 and gave the company a “market perform” rating in a research report on Wednesday, July 17th. StockNews.com cut shares of Primerica from a “buy” rating to a “hold” rating in a research report on Monday, November 4th. Finally, TD Cowen initiated coverage on Primerica in a report on Wednesday, October 9th. They issued a “buy” rating and a $314.00 target price for the company. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $288.33.

Insider Buying and Selling

In related news, Director John A. Jr. Addison sold 2,000 shares of the stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $253.85, for a total transaction of $507,700.00. Following the completion of the sale, the director now directly owns 15,151 shares of the company’s stock, valued at $3,846,081.35. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Primerica news, Director John A. Jr. Addison sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $253.85, for a total transaction of $507,700.00. Following the completion of the sale, the director now directly owns 15,151 shares in the company, valued at approximately $3,846,081.35. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, President Peter W. Schneider sold 1,500 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $261.11, for a total value of $391,665.00. Following the completion of the transaction, the president now owns 10,259 shares in the company, valued at $2,678,727.49. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.85% of the company’s stock.

About Primerica

Primerica, Inc, together with its subsidiaries, provides financial products and services to middle-income households in the United States and Canada. The company operates in four segments: Term Life Insurance; Investment and Savings Products; Senior Health; and Corporate and Other Distributed Products.